United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty Images DETROIT – General Motors union workers ratified a record deal with the United Auto Workers after a contentious final few days of voting, according to results posted Thursday morning by the… Continue reading GM union workers ratify UAW deal following contentious vote
Author: CNBC Online news
GM-UAW deal back on track for ratification after major plant approves pact
United Auto Workers (UAW) members strike at a General Motors assembly plant that builds the U.S. automaker’s full-size sport utility vehicles, in another expansion of the strike in Arlington, Texas, October 24, 2023. James Breeden | Reuters DETROIT — The United Auto Workers’ tentative agreement with General Motors is back on track for ratification after… Continue reading GM-UAW deal back on track for ratification after major plant approves pact
Here’s why the UAW’s record deals with GM, Ford and Stellantis aren’t getting full support
UAW members attend a rally in support of the labor union strike at the UAW Local 551 hall on the South Side on October 7, 2023 in Chicago, Illinois. Jim Vondruska | Getty Images DETROIT – The United Auto Workers achieved record contracts with the Detroit automakers following contentious talks and roughly six weeks of… Continue reading Here’s why the UAW’s record deals with GM, Ford and Stellantis aren’t getting full support
Donating a used car may serve as a charitable gift this holiday season — but it’s unlikely to benefit your taxes
Person holding car key. Manusapon Kasosod | Moment | Getty Images Donating your used car to a charity may bring you joy for helping another person in need, especially as prices for both new and used cars remain high. However, don’t expect the move to make a huge difference in your taxes, experts say. That’s… Continue reading Donating a used car may serve as a charitable gift this holiday season — but it’s unlikely to benefit your taxes
Fisker shares sink 18% after EV maker discloses ‘material weaknesses’ in financial reporting
Fisker Inc. officially revealed the Fisker Ocean all-electric luxury crossover at CES 2020 in Las Vegas. Shares of electric vehicle startup Fisker sank Tuesday after a disappointing earnings report and a regulatory filing that raised concerns about the company’s previous financial statements. The company’s shares fell more than 18% to close at $3.34 apiece. Fisker… Continue reading Fisker shares sink 18% after EV maker discloses ‘material weaknesses’ in financial reporting
Fisker reports wider-than-expected losses, underwhelming deliveries for the third quarter
Fisker began deliveries of its battery-electric Ocean SUV in the second quarter of 2023. Courtesy: Fisker Electric vehicle startup Fisker on Monday reported a third-quarter loss that was wider than Wall Street expected, and said it delivered only about 1,100 Ocean electric SUVs in the third quarter. But, it said, deliveries have accelerated since quarter-end,… Continue reading Fisker reports wider-than-expected losses, underwhelming deliveries for the third quarter
Stellantis offers buyouts to roughly half of U.S. salaried workers
Carlos Tavares, Chief Executive Officer of Stellantis, poses during a presentation at the New York International Auto Show, in Manhattan, New York City, April 5, 2023. David Dee Delgado | Reuters DETROIT – Chrysler-parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker’s… Continue reading Stellantis offers buyouts to roughly half of U.S. salaried workers
Startup Li Auto is beating Tesla China’s EV sales
Chinese startup Li Auto sold more cars in October than Tesla’s China business did in October, according to the China Passenger Car Association. Nurphoto | Getty Images BEIJING — Chinese startup Li Auto sold more cars than Tesla’s China business did in October, according to the China Passenger Car Association. The startup sold a record… Continue reading Startup Li Auto is beating Tesla China’s EV sales
Tesla shares drop 5% after HSBC calls it a ‘very expensive auto company’
Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. Tingshu Wang | Reuters Tesla shares closed down about 5% on Thursday at $209.98 after HSBC Global initiated coverage with a “reduce” rating and a $146 price target. In their note, HSBC analysts… Continue reading Tesla shares drop 5% after HSBC calls it a ‘very expensive auto company’
Biden says all autoworkers deserve deals like those the UAW won from Detroit automakers
U.S. President Joe Biden puts on a t-shirt of the UAW Local 1268 during a United Auto Workers (UAW) union members meeting, in Belvidere, Illinois, U.S., November 9, 2023. Leah Millis | Reuters DETROIT – President Joe Biden said Thursday that all autoworkers deserve contracts like the ones recently won by the United Auto Workers… Continue reading Biden says all autoworkers deserve deals like those the UAW won from Detroit automakers